Beam Global (NASDAQ:BEEM) Sees Large Increase in Short Interest

Beam Global (NASDAQ:BEEM) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,490,000 shares, a growth of 13.7% from the August 31st total of 1,310,000 shares. Based on an average daily trading volume, of 182,400 shares, the short-interest ratio is presently 8.2 days.

Analyst Upgrades and Downgrades

BEEM has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Beam Global in a report on Wednesday, August 14th. B. Riley reduced their target price on Beam Global from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Beam Global in a research note on Wednesday, August 14th.

Hedge Funds Weigh In On Beam Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oak Family Advisors LLC grew its position in shares of Beam Global by 11.0% during the 2nd quarter. Oak Family Advisors LLC now owns 52,288 shares of the company’s stock worth $241,000 after buying an additional 5,181 shares in the last quarter. XTX Topco Ltd bought a new stake in Beam Global during the second quarter valued at about $48,000. Tidal Investments LLC bought a new stake in Beam Global during the first quarter valued at about $284,000. AWM Investment Company Inc. boosted its position in Beam Global by 8.4% during the first quarter. AWM Investment Company Inc. now owns 983,535 shares of the company’s stock valued at $6,688,000 after purchasing an additional 76,301 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Beam Global by 21.0% during the first quarter. Vanguard Group Inc. now owns 618,676 shares of the company’s stock valued at $4,207,000 after purchasing an additional 107,200 shares in the last quarter. Institutional investors own 26.59% of the company’s stock.

Beam Global Price Performance

BEEM opened at $4.99 on Friday. Beam Global has a 12-month low of $4.30 and a 12-month high of $8.48. The company has a current ratio of 1.79, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $5.28 and its 200-day simple moving average is $5.82. The company has a market capitalization of $72.54 million, a price-to-earnings ratio of -3.84 and a beta of 0.87.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. Beam Global had a negative return on equity of 29.07% and a negative net margin of 25.27%. The business had revenue of $14.81 million for the quarter, compared to the consensus estimate of $16.30 million. On average, equities research analysts anticipate that Beam Global will post -0.86 earnings per share for the current fiscal year.

About Beam Global

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.